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2019-02-22 06:45:48

CWST

Casella Waste

$33.55

-1.47 (-4.20%)

06:45

02/22/19

02/22

06:45

02/22/19

06:45

Casella Waste downgraded to Hold from Buy at Stifel

Stifel analyst Michael Hoffman downgraded Casella Waste Systems to Hold with an unchanged price target of $35. The says the company ended fiscal 2018 "almost exactly" as he modeled it and that its deal pipeline remains active. The catalyst to come back to the stock would be upside to the fiscal 2019 free cash flow guidance, which may happen in the second half of 2019, Hoffman tells investors in a post-earnings research note.

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CWSTCasella Waste

$33.55

-1.47 (-4.20%)

02/04/19

KEYB

02/04/19INITIATIONKEYBSector Weight

Casella Waste initiated with a Sector Weight at KeyBanc

KeyBanc analyst Sean Eastman initiated Casella Waste with a Sector Weight rating. The analyst believes the company, which has noted had a remarkable turnaround, is positioned to deliver above-average free cash flow growth, but believes this is already reflected in the stock's premium multiple.

02/04/19

KEYB

02/04/19INITIATIONKEYBSector Weight

Casella Waste initiated with a Sector Weight at KeyBanc

12/28/18

12/28/18NO CHANGE

Fly Intel: Top five analyst actions

Catch up on today's top five analyst actions with this list compiled by The Fly: 1. Casella Waste (CWST) upgraded to Buy from Hold at Stifel, with analyst Michael Hoffman saying the recent selloff in the shares provides a buying opportunity. 2. Newtek Business Services (NEWT) upgraded to Buy from Neutral at Ladenburg, with analyst Mickey Schleien saying the company's recent management update points to "sound underlying fundamentals." 3. Wingstop (WING) upgraded to Outperform from Neutral at Wedbush, with analyst Nick Setyan saying he continues to believe drivers of SSS growth, unit growth and margin upside relative to current 2019 estimates exist. 4. Inter Parfums (IPAR) downgraded to Hold from Buy at BWS Financial. 5. Dell Technologies (DELL) initiated with an Overweight at JPMorgan. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

12/28/18

STFL

12/28/18UPGRADETarget $32STFLBuy

Stifel upgrades Casella Waste to Buy after recent market selloff

Stifel analyst Michael Hoffman last night upgraded Casella Waste Systems to Buy from Hold and raised his price target for the shares to $32 from $30. The stock closed yesterday up 9c to $26.39. The recent selloff in the shares provides a buying opportunity, Hoffman tells investors in a research note. Further, the analyst expects Casella will raise its 2021 free cash flow target to $60M-$70M from $50M. Fiscal 2019 should be another year of better reported price, buoyed by rising collection and disposal prices, says Hoffman. He expects annual landfill capacity increases as Casella expands into previously issued permit expansions in upstate New York. All together he sees the company's free cash flow growing 15% in fiscal 2019 with better conversion of the business model.

Volume is above average for this time of day. Breadth is bullish across the board. Advancing Issues: 1902 / Declining Issues: 1157 -- for a ratio of 1.6 to 1. Advancing Volume: 1,164,790,000 / Declining Volume: 519,618,000 -- for a ratio of 2.2 to 1. New 52-Week Highs: 119 / New 52-Week Lows: 36.

Shares of financial stocks are not participating in Thursday's Fed-inspired rally. A concerned U.S. Federal Reserve Bank cut its forecasts for further interest rate increases from two to zero on Wednesday. Fed watchers interpreted the dovish Fed move on Wednesday as a signal of concern over U.S. growth prospects amid worries in Europe, and to some extent, China. YIELD CURVE NARROWS: As longer-term bond yields decline, the yield curve flattens due to the narrowing of the gap between yields on short-and long-term treasuries. Banks depend on profitability from lending at the long term rate and borrowing at the shorter term rate. The profitability of lenders typically declines with a flattening of the yield curve. "Yield curves are responding to what they see, to what I believe is a global economic slowdown," said Peter Boockvar, Chief Investment Officer at the Bleakley Advisory Group, on CNBC earlier. BANKS ARE KEY ECONOMIC INDICATOR: In an earlier Wall Street Journal article, Ed Cofrancesco, CEO of International Assets Advisory, said, "banks are key components to our economy, so much that if they don't do well, they're a drag on the market and the economy as a whole." Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB), and Wells Fargo (WFC).

The Scotts Company and Major League Baseball announced that the Ohio-based company will remain the Official Lawn Care Company of Major League Baseball in a multi-year agreement. The renewal builds on the partnership that originally began in 2010, taking Scotts and MLB into a 10th season together. This is also the fourth season that Scotts is an official partner of MLB's PLAY BALL initiative, the league's collective effort to encourage young people and communities to engage in baseball- or softball-related activities, including formal leagues, special events and casual forms of play. As part of the extended sponsorship, Scotts and MLB will continue the Scotts Field Refurbishment Program where grants are awarded to youth-focused community organizations to give kids modern, playable ball fields. The Scotts Field Refurbishment Program is part of the company's larger Gro More Good initiative to connect children to more outdoor play opportunities by enhancing community greenspaces. "Memories are made outside, whether they're in a ballpark or in a backyard," said Josh Peoples, Senior Vice President, Brand Marketing, ScottsMiracle-Gro. "Connecting children with safe, quality places to play is a priority for Scotts and MLB continues to be a natural partner for us in this effort. Our long-standing relationship is rooted in community outreach and encouraging fans and families alike to engage and enjoy more moments outside."

Darden upgraded to Hold from Underperform at Gordon Haskett. Gordon Haskett analyst Jeff Farmer upgraded Darden (DRI) to Hold from Underperform, noting that the company and Bloomin' Brands (BLMN) are the only two casual dining companies over the last two quarters that have been able to convert same-store sales upside into upward revisions to consensus estimates for both earnings and margins, which is a dynamic he expects to continue into FY20. Farmer raised his FY19 and FY20 EPS estimates for Darden following the company's earnings report and increased his price target on the stock to $111 from $97.